Asian Market Update : Epic Research Malaysia

Asian stocks were on course for a second day of declines as the yen held gains against the US dollar, weighing on Japanese equities before a meeting of Opec and a monthly US jobs report.

The MSCI Asia Pacific Index slid 0.3 per cent to 128.48 as of 9:02 am in Tokyo. Japan's Topix index slipped 0.8 per cent after dropping 1.3 per cent on Wednesday.

The yen strengthened against the US dollar by the most in more than a month after Prime Minister Shinzo Abe said he would postpone an increase in the nation's sales tax.

"There's now less chance of more Japanese monetary policy particularly when Abe said he's thinking about doing more fiscal initiatives," Tony Farnham, Sydney-based analyst at Patersons Securities Ltd, said by phone.

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